Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average coliection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover: ratio. Consider the following case: Crockett Electronics has a quick ratio of 2.00x,$33,525 in cash, $18,625 in accounts receivable, some inventory, total current assets of $74,500, and total current liabilities of $26,075. The company reported annual sales of $200,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory? 8.01x 8.95x 2. 86x 9.85x The inventory turnover ratio across companies in the electronics industry is 9.845, Based on this information, which of the following statements is true for Crockett Electronics